Barely noticed, Germany has overtaken America to become the world's biggest single exporter, shipping the hardware that powers the rising economies of Asia and eastern Europe. Its trade surplus is now greater than that of China, Japan and India combined, reaching a staggering 16.8 billion euros in June alone. The profits made by German companies are running at over 33 per cent of national income, the highest in 40 years. Eyeing a bargain, the world's canniest are already piling into German assets for the great Teutonic rebound. George Soros and fellow hedge funders are snapping up distressed banks. Britain's Terra...